Sloning BioTechnology Raised € 4.7m in a First Closing of a Series E Equity Financing Round
News Nov 08, 2007
Sloning BioTechnology GmbH has announced the first closing of a series E financing round.
LBBW Venture Capital GmbH, Stuttgart joined existing investors HBM BioVentures, Zurich, KfW Bankengruppe and Deutsche Effecten- und Wechsel-Beteiligungsgesellschaft AG, Jena who also participated in this series E financing round.
The proceeds of this first closing with € 4.7m will be used to finance the internationalization of its Slonomics™ gene synthesis business and the further expansion of the unique gene mutant library product family: Slonomax™ - the intelligent library.
Dr. Heinz Schwer, CEO of Sloning BioTechnology GmbH comments: “We are happy to welcome LBBW Venture Capital GmbH on board, a highly renowned and sophisticated Life Science Investor with a strong financial background”.
Dr. Harald Poth from LBBW Venture Capital GmbH, who will also become a non executive director of Sloning comments: “Sloning clearly has the potential with its fully automatic gene synthesis platform to become the market leader in the increasingly attractive Synthetic Biology market.”
Dr. Poth continued, “With its unique Slonomax™ product, Sloning is very well positioned to become a leader in Synthetic Biology and the partner of choice for its customers from the White Biotech industry as well as delivering better enabling tools to protein therapeutic developers in order to make better drugs.”
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